Terms and Conditions

Transcription

1 Terms and Conditions This document lays out the Terms and Conditions which shall be applicable to all the accounts which are existing or may be opened anytime in future with YES BANK. The words Customer refer to the person(s) who opens the account and shall include both singular and plural. Reference to masculine shall include the feminine and neuter gender. The "Bank"/YES BANK" refers to YES BANK Ltd., a banking company incorporated in India under the Companies Act 1956 and having its registered office at Nehru Centre, 9th Floor, Discovery of India, Dr A B Road, Worli, Mumbai GENERAL -APPLICABLE TO ALL SERVICES 1.1 Definitions: In these Terms and Conditions, unless the context otherwise requires, 1. "Account" refers to any account of the Customer with YES BANK in India, which is designated as eligible account by YES BANK for the Services/Facilities. 2. "Application Form" means, as the context may permit or require, the Account opening application form submitted by the Customer to the Bank for applying for and availing of the Services/Facilities and all other information, particulars, clarifications and declarations, if any, furnished by the Customer or any other person from time to time in connection with the Account. 3. "ATM/DEBIT Card" refers to the card issued by YES BANK to its Customers for effecting transactions at ATMs/EDCs/POS/Internet Payment Gateway/any other mode as intimated by YES BANK from time to time and shall include E Com Debit Cards. 4. "Authorised Signatory(ies)" means the person(s) appointed by the Customer for the purpose of giving instructions on behalf of the Customer to the Bank. 5. "Business Day" means a day other than a Sunday or Public Holiday as defined under Section 25 of Negotiable Instrument Act, 1881 on which banks in Mumbai/India are open to transact business of banking. 6. "Customer" shall refer to the person / persons whose details are more particularly set out in the Account opening documents and shall include individuals, partnership firms represented by their/its partners, body corporate represented by its authorized representatives, trust represented by the trustees/authorized representatives, Hindu Undivided Family represented through its Karta/coparceners, Society represented by its authorized representatives, proprietorship concern represented by the proprietor.

2 7. "Minimum Average Quarterly Balance" refers to the least amount required to open an account, to maintain the account and avoid the penal charges for non maintenance of the said minimum balance. Minimum Total Quarterly Throughput refers to the least value of qualifying transactions required to be routed through the account to avoid the penal charges for not maintaining minimum Average Quarterly Balance as wells as not meeting the minimum Total Quarterly Throughput requirement. 8. "NEFT" means National Electronic Funds Transfer system of RBI 9. "Personal Information" refers to the information provided by the Customer to YES BANK. 10. "RTGS" stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a "real time" and on "gross" basis. 11. "Schedule of Fees/Charges" shall mean schedule of fees/charges as prescribed by the Bank from time to time on the Bank's website/ branches etc. 12. "Services/Facilities" shall mean the services/facilities provided by YES BANK, from time to time, in connection with the Customer's account including Savings Accounts, Salary Account, Term Deposit Accounts, Current Account, ATM/Debit Cards, Phone Banking, Mobile Banking Door step Banking and Internet Banking or such other service intimated subsequently. 13. "Website" refers to the website owned, established and maintained by YES BANK located at the URL or any modifications or amendments thereto. 1.2 The Customer hereby agrees to abide by the Bank's General Terms and Conditions and rules in force and the changes thereto in the General Terms and Conditions from time to time relating to his/her/its account as communicated and made available on the Website. 1.3 The Customer agrees and confirms that in consonance with these General Terms & Conditions, the Customer shall adhere to special product specific Terms and Conditions as Bank may prescribe from time to time. The Customer agrees and confirms that any other Services/Facilities may be offered at the discretion of the Bank, on special conditions, which may be separately agreed to between the Customer and the Bank. In case of conflict between any of these General Terms and Conditions and special product

3 specific Terms and Conditions of any Services/Facilities, such special product specific Terms and Conditions shall, in case of the particular Services/Facilities to which they relate, prevail. 1.4 The Customer agrees that the opening and maintenance of the Account is subject to rules and regulations introduced or amended from time to time by the Reserve Bank of India or any other regulatory body. The customer agrees that the bank before opening any deposit account, will carry out a due diligence as required under Know Your Customer guidelines of the bank. The customer would be required to submit necessary documents or proofs, such as identity, address, signature, photograph and any such information to meet with KYC, AML or other statutory/regulatory requirements. Further, after the account is opened, in compliance with the extant regulatory guidelines, the customer agrees to submit the above documents again at periodic intervals, as may be required by the Bank. 1.5 The Customer agrees that the Bank can at its sole discretion; amend terms and conditions governing any of the Services/Facilities provided to Customer's Accounts either wholly or partially at any time. 1.6 The Bank shall allot a Customer identification number ("ID") to each Customer. The identification number is common for all accounts operated in the same name and style, in addition to unique account number for each account. The identification number once allotted needs to be quoted while opening any further accounts in the same style. The account number is to be quoted in pay in slip/cheques issued by the Customer and in all correspondence. 1.7 The Customer agrees that any change in the Customer's account status or change of address will be immediately informed to the Bank failing which the Customer shall be responsible for any non-receipt of communication/deliverables or the same being delivered at the Customer's old address. Any change in account status or change of address will be effective within 7 days from the date of receipt of such notice by the Bank provided requisite documents are submitted along with the request. 1.8 The Customer agrees that all instructions relating to the Customer's Account will be issued to the Bank as per acceptable mode of communication to the Bank. 1.8A Recording of Conversations. Each party (i) consents to the recording of telephone conversations between the YBL officials, agents, employees and other relevant personnel of the parties in connection with this product or any potential Transaction,

4 (ii) agrees to obtain any necessary consent of, and give any necessary notice of such recording to, its relevant personnel and (iii) agrees, to the extent permitted by applicable law, that recordings may be submitted in evidence in any Proceedings. Further parties agree that the instructions given shall be as good as written instructions. 1.9 The Customer agrees to preserve the Customer's cheque book/atm Card/Debit Card/ Personal Identification Number carefully. In case of loss/theft of the same the Customer shall immediately inform the Bank in writing The Customer agrees that the Customer shall maintain the minimum Average Quarterly Balance (AQB) in the customer's account or route transactions of value which is at least equivalent to the minimum Total Quarterly Throughput (TQT) as prescribed by the Bank from time to time through the Schedule of Charges. Further, the Customer agrees and accepts that the Customer shall be liable to pay the non maintenance charges if neither the minimum AQB is maintained in the account nor minimum TQT requirement is met with. The non maintenance charges as described above shall be as intimated by the Bank from time to time. AQB and TQT for an account will be calculated in the following manner: Average Quarterly Balance = Average of Daily Closing Balance for the Quarter = Summation of daily closing balance/actual no. of calendar days in the quarter; i.e. for e.g. for Apr-Jun quarter, Actual no. of Days = 91, AQB = Closing balance (Day1+Day2+Day3+. +Day 91)/91 Total Quarterly Throughput = Total value of qualifying transactions in INR for the quarter i.e. for e.g. Apr-Jun quarter, Actual no. of Days = 91, Value of qualifying transactions (Day1+Day2+Day3+. +Day91) Customer agrees that notwithstanding any waiver/reduction granted by the bank on minimum average balance requirement, bank reserves the right to revise the requirement of maintaining minimum average balance in the account by providing a notice of 30 calendar days to the customer Grouping of accounts for the purpose of maintaining minimum average balance: The bank at its sole discretion may allow grouping of certain accounts for the purpose of calculating the average balance to be maintained by the customer with the bank at a relationship level across various banking accounts. For such cases, the calculation of average balances and the required minimum average balance shall be done as follows:

5 Minimum average balance required = Sum of minimum average balance requirement (Account 1 + Account 2 + Account n) Average quarterly balance for the relationship = Sum of average quarterly balance (Account 1 + Account 2 + Account n) If Average quarterly balance for the relationship > Minimum average balance required, then no additional charges will be levied by the Bank for non-maintenance of minimum average balance. If Average quarterly balance for the relationship < Minimum average balance required, then each account included in the group will be evaluated for minimum average balance requirement / total quarterly throughput requirement. All accounts not meeting the minimum average balance requirement as well as total quarterly throughput requirement will be charged for not meeting the minimum average balance requirement The Customer agrees that the Customer shall not pay any amount in cash to any sales representative of the Bank at the time of opening an account or for carrying out any transaction in the normal course of the business. The Customer agrees to deposit cash only at the Bank's teller counters at the branch premises or by any other mode allowed by the Bank On the Customer's request and at the discretion of the Bank, Bank shall register mandate / power of attorney given by the Customer authorizing another person as the Authorized Signatory(ies)/power of attorney holder to operate the account on behalf of the Customer. The Customer agrees that the mandate/ power of attorney holder may give instructions including but not limited to operation, closure of the Account or for any withdrawal of any the said Services/Facilities. The Customer agrees and undertakes to keep the Bank informed of any revocation of any such mandate/power of attorney issued by the Customer, failing which the Customer agrees and confirms not to hold the Bank liable for any loss or damage that may be caused as a result of Bank acting or carrying out any instructions given by such mandate/power of attorney holder The Customer agrees to execute necessary writings in the form and manner as may be required by the Bank in order to execute Customer's instructions by fax or to the Bank. The Customer understands that this facility may be provided by the Bank under its absolute discretion on Customer's specific request.

6 The Customer hereby acknowledges that: a) sending information by facsimile/ is not a secure means of sending information; b) The Customer is aware of the risks involved in sending facsimile / instructions, including the risk that facsimile / instructions may: (i) be fraudulently or mistakenly written, altered or sent (in case of facsimile instructions); or (ii) not be received in whole or in part by the intended recipient; The Bank may(but shall not be obliged to) act without inquiry as to the Customer's identity or authority or as to the authenticity of any facsimile / message and may treat the same as fully authorized by and binding on the Customer regardless of the circumstances prevailing at the time of instruction and notwithstanding any error, misunderstanding, lack of clarity, fraud, forgery, or lack of authority in relation thereto, and without requiring any confirmation provided that the concerned person acting on behalf of the Bank believes the instruction to be genuine In consideration of the Bank acting and/or agreeing to act pursuant to any instructions provided through fax/ , the Customer hereby agrees to indemnify the Bank at all times and keep indemnified from and against all actions, suits, proceedings, cost, claims, demands, charges, expenses, losses and liabilities howsoever arising in consequence of or in any way related to the Bank having acted or omitted to act in accordance with or pursuant to any instruction. Within one Business Day on which any instructions are transmitted to the Bank by facsimile/ , the Customer shall deliver to the Bank, a hard (and in original) copy of the Instruction/s in writing signed by the Customer or the Authorized Person(s) and each hard copy shall be marked with the wordings "CONFIRMATION OF FAX/ " in bold letters on the top itself. PROVIDED THAT the Bank may, but shall not be obliged to, await receipt of the hard copy prior to taking any action in connection with any instructions and the absence of or omission to deliver such writing shall not be in any manner construed to mean that such instructions were not given by the Customer and/or the Authorized Person(s). The Customer shall be unconditionally bound by the facsimile instructions and in the event of any discrepancy between the facsimile instructions and the written instructions, the facsimile instructions shall prevail and the particulars and transactions as contained therein, shall be deemed to be the primary document evidencing the facsimile instructions.

7 The Customer agrees that the Customer shall not hold the Bank responsible or liable for any loss incurred by the Customer pursuant to the Bank not being able to act on the basis of a instruction transmitted by facsimile for any reason whatsoever, including in the event that the facsimile transmission or any part thereof, is not legible, is garbled, erroneous, self-contradictory, incomplete or unclear or that an instruction is received at or beyond the close of banking business hours or not on a banking Business Day. The Bank will not be responsible for errors in the facsimile instructions or partially garbled or illegible or incomplete facsimile transmission or other causes The Bank shall only act on complete, unambiguous and clear instructions and will not be responsible for intimating the Customer in case of errors, garbled, illegible or incomplete transmissions. The Bank may, in its absolute discretion, decide not to act upon any facsimile instructions if it, in good faith, has doubts as to the validity or authenticity of the same and may notify the Customer in this behalf. The Bank shall not be responsible/liable for acting on any instructions transmitted to the Bank by facsimile in the event the facsimile transmission or any part thereof, is illegible, garbled, erroneous, self-contradictory, incomplete or unclear or in the absence of the original written instructions not delivered to the Bank. The Bank may at any time without assigning any reason and with a prior written notice of 7 days withdraw this facility. In the event the Customer(s) is/are not desirous of availing this facility, the Customer(s) shall deliver to the Bank a prior written notice of 7 (seven) days in this behalf. All requests entered by the Customer, either electronically or otherwise, are sole responsibility of the Customer. The Bank shall not be deemed to have received any request electronically transmitted by the Customer until it confirms the receipt of such request Bank may at the request of the Customer, provide to the Customer, through electronic medium, information pertaining to the Accounts, Trade Transactions, Cash Management Services, Capital Market Services as may be requested by the Customer such as account statements, MIS on Trade transactions, Debit/Credit Advices, Document Arrival Notice, Cash Management Services related MIS etc. Electronic delivery may be in the form of an electronic mail, an attachment to the electronic mail, telephone, short message services or in the form of an available download from any website maintained by Bank and/or its affiliates and identified for

8 such purposes. The Bank would be deemed to have fulfilled its legal obligation to deliver to the Customer any document if such document is sent via electronic means. Failure to advise Bank of any difficulty in opening a document so delivered within twenty-four (24) hours after delivery shall serve as an affirmation regarding the acceptance of the document. The Bank does not hold out any warranty and makes no representation about the accuracy, authenticity, completeness of the information provided through electronic medium. While Bank shall Endeavour to provide the information promptly the Bank shall under, no circumstance, be held liable to the Customer if the services herein are not rendered in the desired manner for reasons beyond the control of the Bank,., including due to failure of operational systems or any requirement of law. Further, the Bank shall not be liable, in any manner whatsoever, for any change, modification, alteration, variation and/or tampering of the information sent by the Bank to any person including the Customer. The Customer agrees and acknowledges that the Bank shall not be liable and shall in no way be held responsible for any damages whatsoever whether such damages are direct, indirect, incidental or consequential and irrespective of whether any claim is based on loss of revenue, interruption of business, information disclosed by the Bank regarding Customer's accounts or any loss of any character or nature whatsoever and whether sustained by the Customer or by any other person. Neither Bank nor its affiliates shall be liable for any unauthorized persons accessing the records and/or accounts/information sent through the electronic medium to the Customer by the Bank. The Customer agrees, confirms and understands that the Bank may in its absolute discretion, discontinue any of the services completely or partially without any notice to the Customer. The Customer shall advise the Bank immediately in the agreed manner as acceptable to the Bank, in case of any change in the above details and information given to the Bank for availing any Accounts, Trade Transactions, Cash Management Services, Capital Market Services as may be requested by the Customer such as account statements, MIS on Trade transactions, Debit/Credit Advices, Document Arrival Notice, Cash Management Services related MIS etc. The Customer agrees and confirms that the he/they shall not hold the Bank liable for any delay or non-receipt or error in the SMS Alert sent by the Bank or on account of wrong mobile number provided by the such Customer to the Bank. The Customer agrees and understands that under the SMS Alert service offered by the Bank it will enable the Customer to receive customized

9 Alert messages through SMS over their mobile phone as chosen by the Customer and informed to the Bank, with respect to various events and transactions The Customer agrees and acknowledges that the cheque books, Debit/ATM Cards & PINs will be dispatched by courier/messenger/mail or through any other mode by the Bank at its discretion to the address notified by the Customer for correspondence The Customer agrees that the Bank shall, unless requested by the Customer in writing to the contrary, issue cheque book on the opening of the Account. Further issue of cheque books will be only against written requisition by the Customer or through ATM, Phone Banking, Mobile Banking or Net Banking. The Customer agrees that any alterations, if any, on cheques shall be required to be "authenticated" by the Customer's signature against each such alteration. The Bank has the right to refuse payment of cheques which may have been altered in any way The Customer understands that transactions will be entertained during normal banking hours at the branch where the relationship is maintained or at any other YES BANK branches. The Customer agrees that Bank shall not be liable for any delay on account of any failure of connectivity and the services will not be available on the day(s) when the branch is closed The Customer agrees and undertakes to ensure that there would be sufficient funds/clear balance/pre-arranged credit facilities in the Customer's account for effecting transactions. The Customer agrees that the Bank shall not be liable for any consequences arising out of non-compliance by the Bank of the Customer's instructions due to inadequacy of funds and the Bank may at its sole discretion decide to carry out the instructions notwithstanding the inadequacy of funds without prior approval from or notice to the Customer and the Customer shall be liable to repay with interest the resulting advance, overdraft or credit thereby created and all related charges arising thereby at rate applicable on such facilities from time 1.21 The Customer agrees that in the event of an account being overdrawn, the Bank reserves the right to set off this amount against any credit lying in any of the Customer's Accounts without any prior notice The Customer understands that the Bank endeavors to provide the Services/Facilities on best effort basis and the Customer agrees that the Customer shall not hold the Bank liable for any losses etc, including consequent losses to the Customer

10 on account of disruption, delay or non availability of any/all Services/Facilities due to any technical fault or any reason beyond the reasonable control of the Bank The Customer hereby agrees that in a Joint Account, the Customer and the other joint applicant shall be singly and jointly liable for any Overdraft, even if the application cum demand promissory note is signed by any one of applicants singly The Customer agrees that any change in operational instructions or any other information with regard to the Application form will be given by all the Joint account holders or by the mandate/ power of attorney holder(s), if any The Customer agrees that the Customer shall only deposit into the account monies which the Customer is legally entitled to deposit. The Customer understands and acknowledges that the Bank is entitled to information with regard to source of any monies being deposited in the Customer's account and the Customer shall, upon demand, without demur or dispute, inform the Bank of any such source of monies. i. The Customer understands and confirms that If a cheque credited to the Customer Account is subsequently dishonored, the amount thereof will be debited from the Customer Account and the cheque returned to the Customer at the Customer's mailing address as per the Bank's records (subject to these Terms and Conditions) and the Bank shall levy applicable charges. All Cash withdrawals shall be permitted only through the printed cheque forms/ withdrawal slips supplied by the Bank and/or through the ATM/Debit/Credit Cards issued by the Bank and/or any other mode as may be intimated by the Bank from time to time. ii. The Customer hereby authorises the Bank to reverse any entries erroneously passed, with or without notice to/from the Customer; and to debit/credit the Customer Account to the extent required to correct any erroneous entries that may have been inadvertently made by the Bank. The Customer hereby understands and confirms that in case of the death of the Customer, the Bank shall have the right to release the money lying to the credit of the Customer's Account to the nominee appointed by the Customer and/or Customer's legal heirs who shall hold the said funds/items etc. in the capacity of the trustee of the Customer's survivor(s)/legal heirs. The Bank may retain any and all funds in the Account of the Customer until it establishes the identity and credentials of the successor(s) at its sole satisfaction, and the Bank reserves the right to demand and inspect requisite documentation in this regard, including a succession

11 certificate/probate of a will. In case the Account is a joint account where the account is opened with the survivorship clause ("either or survivor" or "anyone or survivor" or "former or survivor" or "latter or survivor"), the Customer agrees that in the event of death, insolvency or withdrawal of any one or more of the Account holders, the balance in the Joint Account shall be paid to the surviving Joint Account holder(s) and in the event there are no surviving Joint Account holder(s) to the nominee(s), if any or to the legal heirs of the Joint Account holder(s) subject to the discretion of the Bank, provided there is no dispute among the survivor or survivors or legal heirs or there is no order from the competent court restraining the Bank from making the payment from the Account. Without prejudice to the foregoing, in the event of the death of the Customer, the Bank reserves the right to pursue all courses available to it under law and equity, at its discretion to recover any outstandings from the Customer's. Notwithstanding the aforesaid, Customer(s) agree that in case of term/fixed deposit with Either or Survivor or Former or Survivor mandate, Bank is permitted to allow premature withdrawal of the term/fixed deposit by the surviving joint depositor on the death of the other, in case there is a joint mandate from the joint depositors to this effect The Customer understands that if the Customer wants his / her operative account at one branch to be transferred to another branch, the Customer shall give the request in writing along with unused cheque books Statements a. The Customer agrees and acknowledges that to help to manage the Customer's Account and check entries in it, the Bank shall provide the Customer with a monthly/quarterly statement of account, unless it is not a facility granted under the type of account opted by the Customer. b. The Bank may provide the Customer with Account statements more often than is normally available on the Customer's Account, at a charge. This charge will be indicated in the Schedule of Fees/Charges made available by the Bank The Customer understands that duplicate statements may be issued at Customer's request for a fee as specified in Schedule of Fees/ Charges and such duplicate statements are issued only for a period not exceeding 36 months prior to the date of request Changes to Terms and Conditions and Schedule of Fee/Charges

12 a) The Customer agrees and confirms that the Bank shall notify any changes in the Terms and Conditions herein contained or to the Schedule of Fee/Charges through any of the following channels :i) Account statements/ Pass book ii) ATMs iii) Notice Board at each branch iv) Internet, including and website v) Newspaper vi) Written communication to the Customer's address registered in the Bank's records, or vii) Any other mode. b) Normally, changes will be made with prospective effect after giving notice of one month. c) If the Bank has made any change without notice, the Bank will notify the change within 30 days from the date of change. If such change is to the Customer's disadvantage, the Customer may within 60 days from the date of intimation of said change by the Bank, without giving any further notice close the Account or switch it without having to pay any extra charges or interest. d) If the Bank has made a major change or a lot of minor changes in any one year, the Bank will, on request give to the Customer a copy of the new/revised terms and conditions/ Schedule of Fees/Charges or a summary of the changes. e) In case the schedule of charges is revised and made effective during the quarter, any quarterly charges applicable on the account at the end of the quarter will be calculated as per the new schedule of charges Transfer of funds via NEFT and/or RTGS : The Customer undertakes to execute such other documents and writings in addition to the instructions for making transfer of funds via NEFT and/or RTGS facility, in a form and manner satisfactory to the YES BANK, as YES BANK may require. Any such instruction issued by the Customer shall be irrevocable. However, YES BANK may, in its sole and absolute discretion without being obligated to do so, revoke any instruction under exceptional conditions and the decision of YES BANK shall be final as to what shall be treated as exceptional conditions. Bank shall act upon instructions for transfer of funds using the NEFT/RTGS system of RBI ("the Instructions") only upon receipt of complete information required for initiating such transfer of funds for giving effect to the Instructions.

13 The Customer understands that the transaction shall be initiated by YES BANK for NEFT and RTGS, on the date of the instruction and/or in the manner provided by the Bank at the time of availing such service. The Customer understands that the transaction may be rejected or cancelled in case the instructions and or /any information provided by the Customer does not meet the security procedures of YES BANK / the Reserve Bank of India/ the beneficiary bank. The Customer also understands that the transaction may also be cancelled/rejected due to any of the reasons like "the designated account of beneficiary not being maintained by the beneficiary bank, an attachment order having been passed the designated beneficiary account by a competent authority/court, details pertaining to the beneficiary/beneficiary account details recorded with the Beneficiary bank does not match, or any other reasons beyond the Customer hereby understands that for RTGS / NEFT transfers, the instruction shall be rejected in the event of the beneficiary bank branch not being part of such clearing. The Customer ensures and confirms that the account to be credited, in accordance with these instructions, is not an account on which there are restrictions, as per applicable law, on crediting monies and YES BANK shall be entitled to charge such fees and charges as it determines as adequate for provision of the NEFT/RTGS and as specified in Schedule of Fees/ Charges. Without prejudice to any other rights of recovery that YES BANK may have, YES BANK shall be entitled to debit any of the Customer's account held with the YES BANK for any such fees. YES BANK may accept and act upon the instruction based on any one field in the Application Form. The Customer acknowledges and understands that the completion of transactions for transfer of funds based on the Customer's instruction shall involve various counterparties. The Customer confirms that YES BANK shall not be held liable or responsible for any delays/deficiencies in settlement of a transaction due to system constraints, actions of other parties or any other circumstances outside the control of the YES BANK. Without prejudice to the generality of the foregoing, the Customer agrees to indemnify and save, keep harmless and keep indemnified YES BANK against any improper/ fraudulent instructions purporting to be received from the Customer and/or for furnishing incomplete information.

14 The Customer understands that the provision of NEFT/RTGS is subject to Indian laws and the guidelines and regulations issued from time to time by the Reserve Bank of India in this behalf. The Customer understands that the Reserve Bank of India and/or any other agency/company appointed by the Reserve Bank of India in this regard shall be an intermediary/ a service provider in the process of settlement of a transaction initiated using any of NEFT/RTGS and, subject to the availability of sufficient funds in the Account, a transaction should be deemed to be complete in all respects a) in case of RTGS fund transfer facility upon settlement of the transaction upon the central system of the Reserve Bank of India, b) in case of NEFT fund transfer facility if the transaction message is not returned unaffected by YES BANK within a reasonable time (decision of YES BANK as regards reasonable time shall be final). RTGS and NEFT transaction shall be deemed to be settled at the time when the Account has been debited and the account of the beneficiary has been credited in central system of The Customer understands that YES BANK may amend the above terms and conditions, at any time, and such amended terms and conditions will thereupon apply to and be binding on the Customer. Minimum And Maximum amount stipulation for RTGS: The Customer understands that the RTGS system is primarily for a large value transactions. The present minimum amount to be remitted through RTGS is Rs.2 lakh (Subject to change basis guidelines issued by Reserve Bank of India in this regard) and there is no upper ceiling for RTGS transactions Disclosure: The Customer irrevocably authorises the Bank to disclose, as and when the Bank is required to do so in order to comply with the applicable laws or when the Bank regards such disclosure as necessary or expedient, (including but not limited to disclosures for the purpose of credit review of any Account, service/s or credit facilities received by the Customer from the Bank whether singly or jointly with others or otherwise), any information relating to the Customer, Customer's Account(s) or other assets or credit facilities whatsoever held on Customer's behalf to : (i) the head office, affiliates, or any other branches or subsidiaries of YES BANK their auditors, professional advisers and any other (ii) person(s) under a duty of confidentiality to the Bank;

15 (iii) Any statutory, judicial, quasi judicial authority and/or local body as and when directed/required; (iv) vendors, installers, maintainers or servicers of the Bank's computer systems; (v) any exchange, market, or other authority or regulatory body having jurisdiction over the Bank, its head office or any other branch of YES BANK or over any transactions effected by the Customer or the Customer's Account; (vi) any party entitled to make such demand or request; (vii) any person with whom the Bank contracts or proposes to contract with regard to the sale or transfer or sharing of any of its rights, obligations or risks under the Terms; (viii) any person (including any agent, contractor or third party service provider) with whom the Bank contracts or proposes to contract with regard to the provision of Services/Facilities in respect of the Customer's Account(s) or Facilities (as the case may be) or in connection with the operation of the Bank's business; (ix) any person employed with, or engaged as an agent by, the Bank or its head office or affiliates, including any relationship officers for the purposes of or in connection with interactions with the Customer or providing Services/Facilities to the Customer or processing transactions pertaining to the Customer's Accounts or Facilities; and (x) to enable the Bank to centralize or outsource its data processing and other administrative operations to the Bank's head office, its affiliates or third parties engaged by the Bank for any such services/operations. The Customer agrees and consents that the Bank shall be entitled, in connection with the Customer's application for any Account, Services/Facilities provided by the Bank, or during the course of Customer's relationship with the Bank, to obtain and procure information pertaining to the Customer or any Disclosure of Information to Credit Information Bureau (India) Ltd (CIBIL): The Customer understands that as a pre-condition, relating to grant of the loans/ advances/ other fund-based and non-fund-based credit facilities to the Customer, the Bank, requires Customer's consent for the disclosure by the Bank of information and data relating to the Customer, of the credit facility availed of/to be availed, by the Customer, obligations assumed/ to be assumed, by the Customer, in relation thereto

16 and default, if any, committed by the Customer, in discharge thereof. Accordingly, the Customer agrees and gives consent for the disclosure by the Bank of all or any such;, (a) information and data relating to the Customer (b) the information or data relating to any credit facility availed of/ to be availed, by the Customer, (c) default, if any, committed by the Customer in discharge of the Customer's such obligation, As the Bank may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau (India) Ltd. and any other agency authorized in this behalf by RBI, declare that the information and data furnished by the Customer to the Bank is / are true and correct. and The Customer undertakes that: The Credit Information Bureau (India) Ltd. and any other agency so authorized may use, process the said information and data disclosed by the Bank in the manner as deemed fit by them; and The Credit Information Bureau (India) Ltd. and any other agency so authorized may furnish for consideration, the processed information and data or products thereof prepared by them, to banks/ 1.32 Non Transferability The Customer understands and confirms that the Account and the Services/Facilities (shall mean the "Services/Facilities" provided by YES BANK in connection with the Customer s account and more particularly described in these Terms) provided to the Customer is/ are not transferable under any circumstance and shall be used only by the Customer. However, YES BANK shall have the right to transfer, assign or sell all its rights, benefits or obligations to any person and these Terms shall continue to be in force and effect for the benefit of the successors and assigns of YES BANK Force Majeure: The Customer agrees and confirms that the Bank shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of the Bank to perform any of its obligations under these General Terms and Conditions or those applicable specifically to its Services/Facilities if performance is prevented, hindered or delayed by a Force Majeure event (defined below) and in such case its obligations shall be suspended for so long as the Force Majeure event continues.

17 "Force Majeure Event" means any event due to any cause beyond the reasonable control of the Bank, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc Fees and Charges: Without prejudice to the generality of the rights that YES BANK has under the Contract Act, 1872 or any other statutory legislation, the Customer hereby acknowledges and understands that charges in connection with the operation of the Account and the Services/Facilities would be levied from time to time. Details of the current applicable fees/charges will be displayed in the branches of the Bank and/or Website and will provide details on following: i. Schedule of Charges/ Fees; ii. a list of services which are rendered free of charge. iii. charges leviable including but not limited to non maintenance of minimum balances in the savings bank account, collection of outstation cheques, issue of Demand Draft and cheques books, account statement, account closure and charges for deposit/withdrawal at ATM locations. Information about the penalties liable in case of nonobservance/ violation of any of the terms and conditions governing the product/ Services/Facilities chosen by the Customer. Any government charges, duties or taxes payable as a result of any use of any of the Services/Facilities shall, if imposed upon the Bank (either directly or indirectly), be debited to the Customer's Account. The Customer also authorizes the Bank to deduct from the Customer's Account, any expenses the Bank may incur in collecting money which Customer owes to the Bank in connection with any Services/Facilities (including, without limitation, legal expenses and fees). The charges/fees may be revised by the Bank, at the Bank's absolute discretion from time to time by giving prior notice. The Bank may debit the Customer's Account with the full amount of costs, charges, fees and

18 penalties payable for Services rendered by the Bank whether in respect of the Customer's Account or otherwise Indemnity: The Customer agrees that the Customer shall indemnify and hold the Bank harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of providing any of the Services/Facilities or due to any negligence/mistake/misconduct on by the Customer or breach or non-compliance by the Customer of any of the Terms and Conditions relating to any of the Services/Facilities or by reason of the Bank in good faith taking or refusing to take action on any instruction given by the Customer. The Customer further agrees and confirms that this indemnity shall remain valid and subsisting and binding upon the Customer notwithstanding withdrawal of any Services/Facility(ies) of the Bank or closure, for any reason whatsoever, of the Account or suspension or cancellation of any or all Services/Facility(ies) of the Bank Right of Lien/Set off: The Customer grants and confirms the existence of the right of lien and set-off with the Bank, which the Bank may at any time without prejudice to any of its specific rights under any other agreements with the Customer, at its sole discretion and without notice to the Customer utilize to appropriate any moneys/shares/securities/assets/properties belonging to the Customer and lying/deposited with the Bank or due by the Bank to the Customer, towards any of the dues and outstanding payable by the Customer to the Bank under or in respect of any Services/ Facilities, including any charges/fees/dues payable under these Terms and Conditions. Terms & Conditions as applicable to Foreign Currency Accounts & Foreign Currency All Transactions related to or involving foreign currency, here in referred as FCY, will be subject to an INR equivalent Conversion Rate as decided by the Bank from time to time. Since FCY conversion rate is subject to frequent changes with-in a day due to market conditions, such conversion rate will be dependent upon the interbank rate (IBR) for the relevant currency, type of transaction to be executed and additional markup/margin to cover daily fluctuation with-in day of the specific FCY. Such currency & transaction specific conversion rate will be available at the nearest Branch.

19 Customer agrees that records of YBL obtained regarding the FCY Inter Bank rate will be conclusive and final regarding the existence and accuracy of such rate. The Customer shall solely be responsible for ensuring full compliance with FEMA rules or any other such rules regulations related to foreign currency including but not limited to FERA etc., regulations or notifications issued there under, applicable laws and regulations in any relevant jurisdiction in connection with establishment of customer/client relationship with the Bank and for any/ all transactions undertaken by the Customer/Client through the Bank and the Customer/Client indemnifies and will keep indemnified the Bank from all actions including but not limited to proceedings, claims, losses, damages, costs and expenses (including legal costs on account of solicitor and for costs incurred in connection with any regulatory or legal proceedings) which may be brought against or suffered or incurred by the Bank in connection with any failure on the part of the Customer to comply with any such applicable laws/regulations. Transaction /Operation related to or including FCY will be subject to Conversion Rate as defined above. Customer/Client agrees to pay or bear such conversion rate applicable to specific currency type and/or transaction type. Customer/Client authorizes the Bank to debit relevant Conversion Rate along with Service tax and any charges as defined in the schedule of charge/or as applicable. "YES BANK may, at its sole discretion, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products/ services." 1.38 Miscellaneous: (i) The Customer acknowledges and understands that information/instructions may be recorded at / stored at /transmitted to various locations and be accessed by personnel of the Bank (and its affiliates). The Customer authorizes the Bank to use the information thus stored in any proceedings before any forum and relay, transmit or provide such information to any person whosoever in accordance with applicable law. The Customer authorises the Bank to, at its sole discretion, tape or record such instructions and rely (ii) All Customers will automatically get registered with the Bank's Do Not Call Registry ( BDNCR") on opening an account/availing any service with/of the Bank. Consequently, the Customers registered on the BDNCR will not receive any marketing/solicitation calls on the telephone/mobile phone numbers of the Customers

20 recorded with the Bank under the BDNCR. In case any existing Customers do not wish to receive marketing/solicitation calls, the said Customers may register themselves with the BDNCR by either writing to the bank or through the phone banking or internet banking. (iii) The Customer and the Bank may, with regard to Customer's Account and/or certain Services/Facilities, agree to certain security procedures, designed to verify the origin and authenticity of communications such as enquiries, advices and instructions sent by the Customer or any person designated and authorized to do so on Customer's behalf (each a "Communication"). The Customer confirms that the Bank is not obliged to do anything other than what is contained in the procedures to establish the authority or identity of the person sending a Communication. The Bank is not responsible for errors or omissions made by the Customer or the duplication of any Communication by the Customer and may act on any Communication by reference to the Customer's Account number only. The Bank may act (iv) The Customer agrees that the Customer shall not hold the Bank liable on account of the Bank acting in good faith on any instructions given by the Customer or on account of delay or inability on the part of the Bank to act immediately or at all on any of the Customer's instructions. In following any instructions with regard to any of Customer's Account and/or the Services/Facilities, the Bank will be doing so on a best effort basis. (v) The Customer agrees to adhere to and comply with all such terms and conditions as YES BANK may prescribe from time to time, 1.39 Governing Law: The Customer agrees and confirms that all claims, matters and disputes are subject to the jurisdiction of the competent courts in Mumbai. These Terms and Conditions and/or the operations in the Customer's accounts maintained by the Bank and/or the use of the Services/Facilities provided by the Bank shall be governed by the laws of the Republic of India. The Bank accepts no liability whatsoever, direct or indirect, for noncompliance with the laws of any country other than the Republic of India. YES BANK may, however, in its absolute discretion, commence any legal action or proceedings arising out of the Terms in any other court, tribunal or other appropriate forum, and the Customer hereby consents to that jurisdiction. Any provision of the Terms that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction.

TERMS AND CONDITIONS GOVERNING CPF INVESTMENT ACCOUNT These Terms and Conditions govern the Customer's CPF Investment Account with the Bank and the services which the Bank may extend to the Customer under

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